Real-World Trade-In Values

aggie1995 · June 2003

Terry,

Is that a fair trade-in price for my Tacoma at the dealer?

thanks.

Hankr · June 2003

Thanks Terry for the assessment on our 99 Odyssey LX (75 K Mi). Now to see if I can get you to look into the future...

I asked about this car because it does seem Odysseys get silly money. We only paid 22.5K for it new and it sounds like we might be able to get $13K back out after nearly 4 years. That's strong.

There's nothing wrong with it, but I wonder whether now's the time to sell it, while value is still strong, rather than drive it another 3 years / 60K miles (during which it will no doubt cost us more to maintain).

Coupled with the competitive new-car market and strong incentives, maybe now's the time. It is not that we "need" a new car, or even "want" one... it just may be the smart financial move.

Your thoughts??

Hankr · June 2003

Given your expertise in the business, I'm curious as to your opinion. Here's my situation.

19-year old daughter going back to college in the Fall for junior year. Gets great grades so to keep my promise to her, I will buy her a used car; sedan or wagon, no coupes or SUVs.

If you were looking to spend $7-8K in this situation, what makes/models would you go looking for? I'm especially thinking of cars that maybe "the market" does not like so much, but are really pretty good cars (ie "value").

Stated differently, what cars do you see auctioned time and again at prices that leave you shaking your head and thinking...
"Those cars really are better than that".

Thanks

thel · June 2003

Thanks for the info. Be sure to tell us what you shot? Come on, hurry up! Quicker!

ghulet · June 2003

Of course Terry will answer this, too, but I think you should be able to pick up a '00 or maybe even '01 Mazda Protege or Geo/Chevy Prism for $7-8k. They're great cars, reliable, efficient, reasonably safe but not as popular or expensive as comparable Civics or Corollas. If you or she like something a little bigger, Tauruses are about as cheap and safe as they come. In your price range, you should be able to get a 2000 or maybe 2001.

jander111 · June 2003

My friend want to choose one from the 2 cars:

1. 98 corolla LE, 88k miles, auto, black, standard equipment with no option. seller asking $5,000.

2. 97 camry LE V6, 122k miles, auto, black, leather, alloy wheels, rear spoiler. Seller asking $7,000.

Both in very good shape, drives good. Front bumper paint chipped due to road debris. We are in Charlotte, NC. Thank you very much!!!

akangl · June 2003

*comes crawling out of her room for a moment*

Since I can't get what I want for the truck, I'm gonna keep it. Sooooo.......

That means I gotta sell the Corolla.

Before you send me back to my room, let me explain....If I take the Corolla I have to ship most of my stuff AND put $600 into the car before I go. A total of an extra $1000, plus the Corolla is about $300 every 6/mos more to insure and the clutch is iffy at best, not bad enough to warrant changing, but it will need it in the next several thousand miles.

Ok, that said, is my asking price fair?

2001 Corolla CE, 5-speed, am/fm/cass, a/c, 47k, tan/tan, NEEDS TIRES, other than that its clean, no accident history or anything like that. I'm thinking about either putting at Park & Sell for $8200 (to cover the $700 in fees they charge) or put it in the paper for $7500. The loan that's on it is just shy of $7500, we paid $8500 for it a month ago, but don't mind taking a loss just to get rid of it in the next 3 weeks.

*goes crawling back to her room*

msmith0102 · June 2003

Hello everyone. I'm from the "dangling chad state (aka Florida)" and I've found a 2003 2WD QX4 (10,000 miles) with standard options in excellent condition priced at $26,900. I was wondering if this was a fair price or what lower price should I offer to the dealership.

rroyce10 · June 2003

..... The Ranger is a 4.0, not the 3.0 V6 .. right.?

            We have an Xcab and a topper, we have a 4x4, we have an auto, miles are kinda high and so am I .. actually this doesn't sound like a bad little rig.

         IF - it looks and drives 99ish, everything works, no rust, deep in the rubber dept, no "weapons of mass persuasion" in the liner, no click click in the 4x4, just a pretty nice ol' truck .. trade side, $2,5/$3,000 depending on the dealer .. down Retail Rd, $5,9 in the paper and $4,0/$4,5 sends it to summer camp.

           The Ody's, well they still get stupid money .. EX 01's, figure they are in them for around the high $18's, low $19's and you should see one in your driveway for "around' $21ish - 00's, "about" $2,000 less .. Navs are worth about a Nick more.

                I hope this helps ...

                         Terry.

rroyce10 · June 2003

..... 4 ....?

                     6 cyl ....?

                  info .... gotta have the info

                          Terry.

rroyce10 · June 2003

...... I shot an 82 with my new clubs .. pretty happy with that, of course the club wasn't too happy with me driving one of their new golf carts on the street to chase one of my balls .. "Hey, we saw you on the GPS - Carts can't leave the grounds" .. l.o.l.. get over it.!

Terry :-))

rroyce10 · June 2003

...... GP's are kinda cold right now and the miles don't help this one, but the color is good .l.o.l..

I can buy these high milers for the $6's, the ultra cleans with 20k/25k for the mid $8's .. I think if you get the $8's that would be all the money -- I don't know if I answered this or not ..

Terry.

cusafr · June 2003

Terry: My friend is looking at a 1994 Jeep Wrangler with 84,000 miles. It has the original 4-cyl. engine, 5-speed. New front seats, no rear seat. A touch of body rust (not much). Metal half doors, top in very good condition, new 31" tires with custom chrome rims. Windshield is cracked on passenger side and horn button is missing. It is white with black top in West Texas. What do you think he could buy it for?

Thanks for your help,

CUSAFR

rroyce10 · June 2003

..... Let's face it, Saturns really don't have much re-sale .. the Leons 2 are doing in and around the high $10's, low $11's with 2/4/6k .. no biggie.

sorry.

Terry.

jlawrence01 · June 2003

Thanks.

I wanted to know what I would expect to get if I turned the car into the leasing company and sent it into the auction.

If I offer the car to employees, I will probably be able to get the $8k that I would like to get.

uga91 · June 2003

Thanks--that is about what I expected to hear. I've decided I can put up with the car for at least a couple of years then I'll get a bigger car. At least with 0% APR all the money I'm paying is going towards principal! Thanks again.

rroyce10 · June 2003

....... Great description ...! .. Great vehicles.! - no Cold pack, no Nack in VA ..?

           Thank You .. I love you, leave your wife.! .l.o.l..

             Hmmm, what makes me wonder is the damage .. how much ..? was it a $1,500 fender bender ..? .. or .. was it a "how ya doin' " $6,000+ kiss of death.

              Lexus buyers like em' clean to the bone .. price "seems" a little on the cheap side, it's a $31+ vehicle at the block .. have it checked out Clooose - if all is well with just a fender bender, then $33ish should be all the money .. if it had a visit with a BIG palm tree, then you may want to look elsewhere ...

              Let me know ...

                     Terry.

aggie1995 · June 2003

$15,500

2001 Toyota Tacoma DoubleCab Pre-Runner - V6

SR5 Package
Running Boards
Alloy Wheels
CD/Cassette Deck

50,000 miles (all highway)

Quarter Size star on windshield right above steering wheel. 3 inch crack on windshield in lower left corner.

Deep 4 inch scratch on rear left quater panel from falling ladder.

No bedliner....small/shallow scratches in bed.

Fabric on driver seat looks worn (age appropriate though). All other fabric in like new condition. carpet is like new.

Tires have ~30,000 miles left on them.

Vehicle was rear ended requiring repair of rear quarter panels, F&R bumpber, taillights, and tailgate.

Vehicle was side swiped requiring repair of passenger side dooors and rear fender.

isellhondas · June 2003

I always get a kick out of that one...:)

I mean, it was NEVER on a surface street!

Kinda like ALL leather interior.

Just kidding...I know what you mean.

zueslewis · June 2003

section in the NADA book for "highway miles" versus "regular" miles. Miles are miles - they affect value, either positively or negatively.

18fan · June 2003

Why not put the Corolla on a trailer and use the truck to haul it to the lower 48? Then when you get to where you are going, you can decide which vehicle is best for your new area and sell the other one. Just a thought.......

--18fan

zueslewis · June 2003

like a Toyota/U-haul trailer!

akangl · June 2003

I can only afford to take one or the other, see, both have loans on them and I can only pay off one. The truck has a $5600 loan on it, the car $7400. It would also be really hard on the truck to haul that car across the US and really expensive on the ferry (which I'm taking to keep from having to drive through Canada). So, taking both is out of the question.

The truck is sturdy and reliable, hasn't given a seconds trouble in the 7000 miles we've put on it since February.

Besides.......*silly cowboy, trucks are for girls*

virgiesmom · June 2003

Thanks for the input.
Damage to rear was in $600 range; carfax looks okay. Going by tomorrow and give it one more look, confirm wifey still madly in love with it and proceed down path of negotiation. I'll let you know details/results. Thanks again.

rroyce10 · June 2003

....... That Boxster has been on eBay since Jesus was a baby .. and most of all, it's not an "S", it's a reg Boxster with an sport package (it's a CA298) .. I'm guessing, (probably have had it since Feb) that they are hoping for the spring/summer rush, "might" have $34ish in it .. $37 should be all the money, the color kinda kills it, it's almost a $1,000 deduct ...

Terry.

rroyce10 · June 2003

..... The Corolla will do fine .. I thought there was a big market for the 4x4's, I would think that would sell fast ..?

Terry.

rroyce10 · June 2003

..... $600 ....? that should be nothing on a Lexus, hardly enough to pay for the fascia to be re-done .. check it out, could be a real winner here.

Terry.

rroyce10 · June 2003

.. I will check back later, looong day.

Terry.

Hankr · June 2003

Terry, it may be obvious, but here's my thinking.

I paid full MSRP, around $23.5K. Have driven it for 4.5 years & 75K miles. Could sell it private-party now for, lets say 11.5K. So in 4.5 years it has cost me 12K. Round numbers, that's $225 per month during its trouble-free years.

Looking forward, say I drive it another 3 years and put on another 50K miles. When I'm done, I'll have a near-8-year-old Odyssey with 125K miles on it... couldn't be worth more than $3K, maybe $4K at best.

So I figure my cost-per-month to drive it for the next 3 years will actually be MORE than I've experienced so far... there will no doubt be repair bills in these next 3 years well over the couple minor things we've had thus far.

Do you see any flaws in my thinking? Is 100K miles the magic barrier? Say we keep it another year and sell it next spring with 95K miles... might we still get $8.5K to $9K?

steine13 · June 2003

No, no flaws.
The flaw is with the carved-in-stone conviction that new cars are more expensive than used. True in the majority of cases, but the Odyssey is one of the exceptions.
Note how Terry said that they "still bring stupid money". Your calculation is another way of saying the same thing.
Of course, you're neglecting cost-of-money and such, but in the present situation, that's more or less peanuts. Even the insurance on a '99 is barely less than for an '03.

But ditch it soon. The '04 Sienna is here, the Ody is ready for a redesign ('04? early '05? I forget), and there's gonna be more 99-'03 on the market.
FWIW, even the Sienna seems to bring strong $$, which is suprising with the way they've been flogging the '03s of the lot, and the '04s available for a good price... Terry will correct me if I'm wrong here... I'm interested in that, got two of the buggers...

Let us know how you make out,
-Mathias
East Lansing, MI

rroyce10 · June 2003

..... >>> If you were looking to spend $7-8K in this situation, what makes/models would you go looking for? I'm especially thinking of cars that maybe "the market" does not like so much, but are really pretty good cars (ie "value .. <<

             Great question .. !

          I'm trying to answer all your questions, so I kinda waited for a little time on this one ... whats a real good vehicle - Bang for the Buck, lotsa miles less money stuff.

                *Less or Around that the $8/$7ish figure.

         The Chevy Prizm is a Corolla, that's a great buy and still a big secret to most folks .. Chevy 99/00 Malibu LS's V6 all toyed up with low miles .. Nissan Sentra's, 99/98 Altima's .. Mazda Protege's LX/EX, 99/00/01's .. Ford Contours/Merc Mystique, 24V V6 SE's 99/00's .. Old's Alero V6 GL/GLS, 99/00's ..

             On the domestics, you should be able to find them with 25/35k in or below your figures .. the imports with 30/40k. Just take your time, check the history and don't be afraid to spend a few bucks more for a Nice, Clean low mileage vehicle.

           I try not to put a "future value" on any vehicles .. but, if I had to guess on one it would be an Ody. I base that on that the -"98's"- 100/125k are getting in and around the $5/$7's at the auctions ~ so dealers must be seeing the $7/$9ish on the Retail end .. wacky.

          Keep in mind, these are the ultra clean, service 110%, new sneakers and you would never know the mileage unless you looked first ... whether you should keep it or not .? can't say, this is a You thing, whatever makes you feel comfortable.

                         Terry.

rroyce10 · June 2003

..... There is certain vehicles, certain models that kinda go into "slumber" so to speak .. the new models really don't effect them, there is always a market for a nice clean $8,000 vehicle, there's always a market for a nice clean $4,000 vehicle.

         Even with all the negative talk about the economy .. what really has changed is: the "flow" the "direction" of the market. The folks that wanted a $50,000 vehicle, now they are looking at $30,0 vehicles .. those who were looking at the $30 grand vehicles are now wanting the $15 grand vehicles and of course there is lot's of action in that $10 grand or less market .. so unless it's really distressed merchandise, which Ody's and Sienna's are not, then whether the New 04's or the 05's roll through, doesn't mean much.

            The biggest difference is, there is a Lot of Cash in this country, no matter what folks want to think, which expands that $9,999 or less market .. plus rates are so cheap now, it's great, you can get 3.9% via Credit unions for a new vehicle and 4.9% for the used - who needs special rate programs through the manufacturers ..? .l.o.l..

              Anyway, clean 99 LE Sienna's with 60/70k are doing the high $9's/ low $10's at the block ..

                     Terry :-)

stebu · June 2003

Terry, thanks for the heads up on my Ranger. You are correct, it is a 4.0L.

To continue with the MV theme, the only other type I'm considering it an '02 MPV. Could you get me in the ball park, as far as wholesale/retail, for an '02 ES, and LS stripped, and LS loaded up with most of the goodies. Assume 15-20K and the same white/light color theme of the Ody's I'm looking at. Seems to me the MPV's are the better value if I can live with their size. I'm asking ranges here so I don't have to keep bugging you on every one I see.

BTW, I'm beginning to see what you mean about the "stupid money" people are asking for the Ody's. All the more reason to seriously look at the MPV's me thinks.

Thanks as always.

jlawrence01 · June 2003

Here is car #2 that I am planning to sell this month:

Dodge Caravan LE FWD
Exterior: Forest Green
Interior: Silver Fern
Premium Low Back Bucket Seats
4 Speed Automatic Transmission

Air conditioning w/ Dual Zone
8-way Power driver's seat
Key less entry
Rear heat and air conditioning
Driver's side sliding door
Luggage Rack
16" Aluminum wheels

Garaged in the Salt Lake City area

The vehicle has only 35k miles.

Interior looks brand new. Exterior is in good shape with no major dings.

Terry, what do you think??

rerenov8r · June 2003

Terry here's the "used car lot" that the wife has ordered GONE -- help me figure out fair trade-in/prices for quick sale:

In the 'Top Slot":
1995 Buick LeSabre 'Custom' (the base model) Color: ever popular Light Beige Metallic exterior, beige cloth interior. Mileage: 79,000
Major options/equipment: 3800 V6, 4Speed auto,wire wheel covers, fresher tires (maybe replaced at 60K?, receipt is somewhere...) ABS, dual airbags, six-way power drivers seat, dual manual recline, tiltwheel,cruise, delay wipers, rear defrost, remote lock key fob, am/fm/cassette with power antenna, windows, locks, trunk net, trunk release, carpet mats, excellent A/C. Overall appearance; some minor parking lots dings & scrapes, no chips or rust.

Not exactly a queen, but still serviceable:
95 Taurus GL Wagon Miles: 84,000 Color Light Blue metallic exterior dark blue cloth interior. 3.0L V6. Auto tranny. Drivers side air bag. Tilt wheel. Delay wipers, Rear wiper & defrost. Ice cold A/C (new compressor at 50K) New rubber at 75K miles(got the receipts for these too). No third seat, crank windows, manual seats (with recline), manual locks, no cassette. Appearance: Minor bumps and bruises. No rust. Glossy paint. Snapped off the drivers side mirror.

Well past its prime:
89 Olds Cutlass Ciera SL 4 door. 130K Miles Color: Metallic silver. Interior: gray cloth with vinyl trim. Options: 3300 V6 4speed auto tranny. Alloy wheels (nice ones with the weave pattern)Tilt , cruise rear def Power windows & lock. AM/FM/Cassette with always up power antenna. electric trunk release. Lighted visor vanity mirror. Cold A/C. Appearance: fair/poor. Some minor frontend damage to bumper cover/marker light, some light rust at the edges of doors, trunk light is weathered, as is some paint. Tires were replaced at 75K or so.

Much thanks!

akangl · June 2003

Problems with my truck are, 1. its a chevy (market is saturated with them) 2. its 454 (people want diesels up here) 3. its got some miles on it 4. its summertime, 4x4's dont' sell in the summer 5. its a chevy....did I say that already?

We could probably get around $5k for it, I want at least $7k out of it, ain't gonna see that up here. Besides, I'd rather drive it out, it has cruise control, I can haul more stuff, its safer, and I can always buy another car, but I doubt I'll ever find such a nice, reliable truck like this one at least at that price.

anonymousposts · June 2003

Curious about the value of our 1995 Lexus GS300 Touring Edition with 140,000 miles. It's two-tone gold with tan leather interior. Leather, power seats (no memory and not heated), 12-disc changer, Touring Edition wheels with new tires. Never been wrecked, runs great. Slight damage to front bumper where the previous owner must have bumped into someone's tailpipe. Interior is spotless. Car is in Atlanta.

Local Ford dealer wanted to give us $4000 and have us pay $600 over invoice for a 2003 FI50 regular cab XLT flareside 5-speed 4.2L V6. We quickly departed and went straight to the Honda dealer to drive an Element. After the Element drive we were kinda glad he offered what we thought was a laughable amount for the GS300. Were we right or wrong?

Hankr · June 2003

I've seen about 10 different suggestions to your plight. To each you have an answer that indicates you have made up your mind.

So sell the Toyota, keep the truck, and be done with it.

And good luck.

zueslewis · June 2003

swap it straight across for an economical car (like a Corolla) and call it good. The truck will move your stuff, you have cruise control, etc, and it'll be worth more in the Northwest/Midwest than in Alaska - at least in the summertime.

akangl · June 2003

Yup, that's the plan, providing I can sell the car, otherwise, I'll drag the car along with and make it a toyota-uhaul. Its advertised in the paper this weekend, have had two people look at it already, but of course its not what they want or its priced too high or whatever. I have it listed for $7850. Doesn't really matter to me one way or another, I like the car, its a good car.

rroyce10 · June 2003

..... 50k .. it's been hit more times than Joe Lewis .. $15,500 ..? I dunno, it sounds like $13,5/$14,0ish vehicle to me

I "think" I read that you received that $15,5 on a trade-in .. perhaps a little "over-allowance" to get that figure ...

Terry.

rroyce10 · June 2003

...... Mazda's - zoom zoom ..

02 MPV LX/ES's, with 20/25k are doing "around" the $15/$16ish range .. I gotta think you can see one for the $18/$19 range or less in your driveway ...

Terry.

rroyce10 · June 2003

....... Not a Grand right ..? 3.3 or 3.8 ..?

              This dude has like nooo miles .. it's an LE, has all the stuff, rack, dual air, wheels, power seat .. trade side, it's worth in and around $3,5/$4,0 if it's Cleeean .. kinda of a waste here for a trade with those low miles -- down Retail Rd, $6,900 in the Mormon Tabernacle paper and let the first choir member take it home for $5,5/$6,5 ...

              Good luck ...

                     Terry.

rroyce10 · June 2003

..... Charlotte huh ..? nice area, got friends in the Raleigh ..

            122k, a little steep .. is this a XLE, or a LE with a aftermarket leather package .?

             My money is on the Corolla .. it's an LE so it has the power pack, auto and the miles are semi, kinda, almost, wanna be low .. $5,0 is not bad and $7 is too much, try $4,5 first and see what happens ..

                    Terry.

rroyce10 · June 2003

...... Garage sale huh ..?

          Trade side, the Lesabre is probably worth $1,5/$2,0 - "could" "might" "maybe" see $2,5 if it's a "stand tall vehicle" (fresher tires ? is that like hwy miles.? heh heh heh) .. miles aren't too bad, and they do have a loyal following .. if you enter the dark side: after a good detail and a great ad, then $4,9 and $2,9/ $3,9 should see a new owner ...

               Crank windows on a wagon is the kiss of death .. "maybe" the $500/$1,2 range come trade time .. $2,9 down Retail Rd, take whatever over $1,900 ..

            The Olds is kinda a $500 vehicle .. kinda.

          I appreciate the Great descriptions.!

                  Good luck on these pup's, what are you buying next ..?

                     Terry.

steine13 · June 2003

Oohhh someone help me... i can't take it any more...

I'm having BWS (beater withdrawal syndrome)... i NEED that ford wagon for $1500 or so... been driving a brand-spanking new Sienna for four months and I'm slowly cracking... It's everything I wanted, hauls 3 adults 2 kids 2 canoes for a trip... but it's so boooooring, any idiot can drive a new car... beaters take finesse!

Terry, slap me out of this, please!

Of course, i've got a line on a cleaner-than-the-board-of-health '91 corolla wagon with 75k miles, ac and manual everything... from a friend at work.. will post a description when i know more.. he wants a Jetta Wagon and I told him not to trade it.

Two years ago, he traded a nice '87 Golf with low miles and he didn't even know what he got for it... instead of offering it to me first.

I had BWS then, too...

Thanks for listening. I feel better now.
-M

mark156 · June 2003

Jolie, are you taking your daughter with you? If so, you will probably need the extra room in your vehicle. Also, if I remember correctly, you said you are moving to Texas. Gas is a lot cheaper there so the "BIG" monster truck would be a little less expensive to run than in Alaska. Texas is a great place to unload a truck (those Texans really love their trucks).

Waiting for the next chapter of Akangl's trek to the lower 48.

M.

rroyce10 · June 2003

..... Thanks for a great description ..

$140k ..? Your another one we have to find a closer dating service for .. lots of miles, ooop's we knew that - the color is good, right options, as long as the leather doesn't look like it been sat in by 15 different Swiss military knives, then $4,0 seems about right ... it's the miles, not your breath.

Terry ;-)

jlawrence01 · June 2003

Thanks

It is a Grand and a 3.8L engine.

I can't believe that I missed typing that in with the sticker right in front of me.

akangl · June 2003

I have 2 children and they are staying with thier dad until August, that will give me time to get settled before they fly down.

I would have no trouble unloading my truck on a Texan I'm sure, its a looker......everyone teases me that it sucks gas and I say "yeah, but she looks darn good doing it".

Of course if that little car doesn't sell (not holding my breath) I'll drag it along too. Not taking less than what its advertised for and so far only 2 tire kickers have looked at it.

The court date for the divorce is the same day I leave, so I will come out of the courthouse and get into my truck and drive off. June 27, so less than 3 weeks away.

Now off to watch the Belmont.....come on Funny Cide!!

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